Aimia's (AIM.TO) board authorized the renewal of its Normal Course Issuer Bid (NCIB) to buy back for cancellation up to 10% of its public float of common shares or about 5-million common shares, subject to the approval of the Toronto Stock Exchange (TSX), it said on Thursday.
The bid is expected to be renewed on or about June 6, 2026, and to end on June 5, 2027, at the latest, subject to the approval of the TSX. Aimia also intends to enter into a pre-defined plan with its broker to allow for the buy-back of common shares at times when the company ordinarily would not be active in the market due to its pre-scheduled blackout periods.
As at April 30, the company had 88.8-million issued and outstanding common shares.
Shares of the company closed up 1.1% to $2.7 on Wednesday on the TSX.